III: Sees A Solid Year Ahead For P-C Insurers
Wednesday, December 17th, 2003 Liability PropertyThe financial declines which property-casualty insurers endured for five years came to an end in 2003, and 2004 should be another solid year for them, the Insurance Information Institute said. According to the New York-based group‘s annual survey of Wall Street stock analysts and industry professionals, the p-c industry‘s premium growth, while decelerating, is expected to remain relatively strong next year. The average forecast in the survey, I.I.I. noted, sees net written premiums rising 8.1 percent in 2004, thanks to increased prices as well as higher demands as the overall economic recovery continues to gather steam. This premium growth, I.I.I. pointed out, is high by recent historical standards, even though it represents a deceleration from the 10.8 percent average gain estimated for 2003 and the 14.6 jump reported in 2002.
